What Places In Europe Are Popular With South Africans To Buy Property?
/Every rich South African person has their own motives for withdrawing funds abroad and investing them. Most of them prefer to invest in real estate and according to the latest data, it is investments in Europe that attract them the most. Especially: Portugal, Malta, and Montenegro.
“Most buyers are looking for a solid offshore property investment, that offers them either residency or citizenship and easy access to Europe. Some are moving there straightaway, but others are looking for easier investment terms that only require them to visit the country for a couple of days a year."
Tax breaks are one of the top priorities for South African investors. Income tax and business tax most of all influence the choice of the country for obtaining citizenship.
Portugal
“Portugal’s Golden Visa has been around for a while, but we are seeing a strong increase in enquiries,” says the immigration expert. One of the requirements for obtaining a visa is the purchase of one or more properties in the amount of 500,000 euros or investments in certain options of real estate in the amount of 350,000 euros or more.
“South Africans love the fact that the investment allows them to live and work in Portugal, which also gives you visa-free travel throughout the European Schengen Area. After five years, they can qualify for permanent residence and potentially citizenship thereafter."
Montenegro
“From a financial perspective, Montenegro is poised to join the European Union and anyone buying property now is likely to see massive gains if the country is accepted into the EU. COVID-19 aside, Montenegro has been listed as a trending tourism destination and is strongly business-investment focused. Property investments offer a direct path to citizenship."
In order to obtain Montenegrin citizenship by investment, the applicant must invest in approved real estate projects.
Malta
Malta also has an attractive investment offer. It is enough to invest in real estate from 320,000 euros. Foreigners who choose this path can count on receiving a residence card in the EU, which entitles them to a visa-free regime within the Schengen zone.
